U.S. private equity firm Sun Capital Partners has appointed Morgan Stanley to sell DB Apparel, the maker of Wonderbra, Dim and Playtex lingerie, as reported in French daily newspaper Les Echos.
The intimate group, which could fetch more than £483 million pounds, was bought by Sun Capital from Sara Lee six years ago. It saw its profitability increase six fold, following a subsequent restructuring.
The company, which currently has no debt, could alternatively obtain re-financing should it not fetch a satisfactory valuation, according to sources cited in the same paper.
Recent reports that the turmoil in Europe – DB Apparel’s main market – had seen its sales decline were denied by a company spokesperson, who revealed to Lingerie Insight that turnover for the year ending June, 2012, is set to be stable.
The spokesperon said: “DBA, like all market leading companies, constantly monitors opportunities to ensure its long-term development. This strategic analysis is normal in the life of a company. Sun Capital is a responsible shareholder and constantly monitors opportunities to ensure DBA’s future growth, but has not made a formal decision on any strategic option regarding DBA.”